Job Description
Overview:
The hourly range for this role is $43.26 to $50.48 per hour (equivalant to $90,000 to $105,000) + bonus, however, Bayview considers several factors when extending an offer, including but not limited to, the role and associated responsibilities, a candidate’s work experience, education/training, location and key skills. Responsibilities:
Discretionary annual bonuses, when paid, are based principally on the evaluations of job performance by those to whom you report. Year-end bonus amounts are subject to change based on individual and company performance – although there is no guaranteed minimum for the year-end discretionary bonus.
While performing the duties of this job, the employee is regularly required to sit and use hands to handle, touch or feel objects, tools, or controls. The employee frequently is required to talk and hear. The noise level in the work environment is usually moderate. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus.
We are seeking a Non-Delegated Underwriter, this is a full-time, remote position. The candidate must have extensive experience underwriting Jumbo mortgages, Non-QM, DSCR, and Bank Statement Loans and must be familiar with Non-Agency. This individual will be responsible for underwriting mortgage applications in Jumbo, DSCR, Bank Statement, and Agency eligible programs for our Non-Delegated Correspondent customers. The candidate will analyze all aspects of individual loan credit risk to ensure that loans originated meet secondary market guidelines and requirements. This position will work closely with the Non-Agency capital markets and credit policy teams to ensure that loans are purchased in accordance with Bayview’s origination and purchase policies.
The hourly range for this role is $43.26 to $50.48 per hour (equivalant to $90,000 to $105,000) + bonus, however, Bayview considers several factors when extending an offer, including but not limited to, the role and associated responsibilities, a candidate’s work experience, education/training, location and key skills.
- Review and evaluate loan files for risk issues and potential fraud and/or misrepresentation.
- Responsible for underwriting complex Non-Agency mortgage files.
- Evaluate Jumbo, DSCR, Bank Statement, Agency eligible and Non-QM loans.
- Review and evaluate information on mortgage loan documents to determine if buyer, property, and loan conditions meet established credit guidelines.
- Coordinates underwriting activities with loan processor, client manager, and/or broker to ensure loan requirements are met; notifies loan production personnel of incomplete files to obtain appropriate information necessary to complete loan packages.
- Ensures and upholds fair lending practices; meets targets for productivity, quality, and customer satisfaction.
- Analyze appraisals to ensure loan collateral meets valuation standards and value is supported.
- Evaluate the borrower's ability to repay the subject transaction in accordance with guidelines.
- Calculate and evaluate all income types including but not limited to all self-employment types.
- Review and evaluate residential business purpose loans in the name of an entity and review and analyze entity documentation.
- Evaluate third-party fraud tools to identify and mitigate mortgage fraud.
- Obtain a working knowledge of all internal mortgage products to suggest and evaluate secondary options for loans, as applicable.
- Maintain high levels of quality in all reviews.
- Review new loan files as well as conditions on submitted transactions.
- Provide best-in-class service to all third parties.
- Minimum of 5-10 years’ experience in underwriting Non-Agency loans.
- Must have recent experience in a front-line underwriting role.
- Extensive experience and strong knowledge of Jumbo, DSCR, Bank Statement, Non-QM, and Agency underwriting. Extensive knowledge of Mortgage Banking origination practices, procedures, regulations, and laws.
- Strong understanding of the operational responsibilities involved in the purchase and sale/securitization of whole loan assets as it pertains to credit quality.
- Comfortable negotiating complex issues and resolving problems.
- Ability to establish and maintain working relationships with co-workers, staff, and external contacts, and to work effectively in a professional team environment.
- Thorough knowledge of all Agency and market common underwriting requirements as it pertains to Non-Agency lending.
- Highly skilled in effective verbal and written communication, including active listening, and presenting findings and recommendations.
Certifications, Licenses, and/or Registration:
N/A
Pay and Benefits
Pay hourly range: $43.26 - $50.48 per hour. Hourly pay is determined by the applicant’s education, experience, knowledge, skills, and abilities, as well as internal equity.
Discretionary annual bonuses, when paid, are based principally on the evaluations of job performance by those to whom you report. Year-end bonus amounts are subject to change based on individual and company performance – although there is no guaranteed minimum for the year-end discretionary bonus.
In accordance with this position, hired individuals may be eligible to participate in Company benefit plans and programs, including paid time off benefits (vacation, holiday, and sick time); group medical, dental, and vision insurance programs; life insurance and disability benefits; the Company’s 401 (k) retirement plan; and other fringe benefits as are made available to other similarly situated employees of the Company, in accordance with and subject to the eligibility and other provisions of such plans and programs.
Physical Demands and Work Environment:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and use hands to handle, touch or feel objects, tools, or controls. The employee frequently is required to talk and hear. The noise level in the work environment is usually moderate. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus.
EEOC:
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.